How Ocean Properties Operates

The company had apparently agreed to buy out a shop in Bar Harbor. But when it came time to close the deal, they just left the seller hanging.

"On Dec. 8, Mainebiz reported that Portsmouth, N.H.-based Ocean Properties, which is owned by Tom Walsh, had reached a purchase and sales agreement for the shop with its owners, Edward and Anne Damm. The shop is the last parcel of private property on West Street between Town Pier and Rodick Street in downtown Bar Harbor that Ocean Properties or one of its LLCs has not purchased in recent months, according to the Bar Harbor Times.

The Damms report, however, that Ocean Properties never showed up at the closing date to complete the transaction, and do not believe development plans for the harbor include their business."

- Mainebiz